Supernova Advisor Teams: A Pathway to Excellence

PRAISE FOR SUPERNOVA ADVISOR TEAMS

"The world of private wealth management has evolved from brokers operating alone to financial advisors practicing within a team. Teamwork can be powerful, but effective teamwork does not happen automatically. Curtis Brown and Rob Knapp have written a book that can help financial advisors put together superior teams. I knew both Curtis and Rob over several decades at Merrill Lynch. They were both highly effective leaders and innovators and their experience and wisdom are now being shared to help others grow professionally."
Winthrop Smith, Jr., former EVP, Merrill Lynch and Chairman of Merrill Lynch International; President, Sugarbush Resort

"I had the pleasure to work with Curtis Brown throughout my 20+ year career at Merrill Lynch. He is an innovative leader who has always looked for better ways for financial advisors and their teams to better serve their clients and as a result grow their practices exponentially! Supernova Advisor Teams is not a compilation of ideas and theories. These are proven strategies that you can apply tomorrow to take your team to the next level of achievement and performance!"
Robert Dineen, former SVP Private Client Merrill Lynch; and former President/CEO Lincoln Financial Network; Chairman of the Board Cetera Advisors

Supernova Advisor Teams is designed to help financial advisory teams improve productivity and the overall client experience. The authors offer the information, strategies, and tactics needed to create teams that are more aligned. Once teams are aligned a commonality of direction emerges, and the individual energies are in harmony. Excellent teams have a shared vision as well as an understanding of how to complement each other′s efforts.

Supernova Advisor Teams is your extraordinary guide for building extraordinary teams.

Foreword vii

Preface xi

Acknowledgments xv

Introduction: Why Form a Team? xvii

Chapter 1 Stepping Outside of Your Comfort Zone 1

Chapter 2 Distinct Types of Teams 11

Chapter 3 Team Effectiveness 23

Chapter 4 Leadership Styles/Leading the Team 33

Chapter 5 Establishing a Vision, Mission Statement, Value Proposition, and Elevator Pitch 43

Chapter 6 Operationalizing the Five Star Model 61

Chapter 7 Team Collaboration 73

Chapter 8 Shock Trauma Surgery Teams: A Compare and Contrast View 87

Chapter 9 Team Contract and Agreement 99

Chapter 10 The Key Drivers of Your Business, Forecasting Growth, and Building Your Business Plan 111

Chapter 11 Recruiting, Hiring, and Retaining Good People 123

Chapter 12 Onboarding and Mentoring a New Team Member 139

Chapter 13 Team Dysfunction: The Elephant in the Room 149

Chapter 14 The Leader/Manager Role in Building and Coaching Teams 161

Chapter 15 Wealth Management in the Digital Age 173

Chapter 16 Diverse Teams and Niche Markets 185

Chapter 17 Team Summary 199

Index 211

CURTIS C. BROWN, JR. is a Practice Management consultant with Supernova Consulting. Previously, he spent 30 years with Merrill Lynch in a variety of leadership positions, including National Sales Manager, Regional Director, and Special Assistant to the Chairman and President.

ROBERT KNAPP is the architect of the Supernova model he developed with a team of financial advisors and leaders at Merrill Lynch. He created Supernova Consulting Group, LLC. with the purpose of improving the client experience worldwide. Previously, he was Managing Director of Merrill Lynch where he worked for 34 years.